Credit Alert in Big Bank Earnings

October 12th, 2017 9:42 am | by John Jansen |

Via Bloomberg:

Bad Omen for Bad Debt in U.S. Bank Earnings
2017-10-12 12:30:38.544 GMT

By Laura J. Keller
(Bloomberg) — Increases for bad-debt provisions could end
up being a theme this earnings season for big U.S. banks.
Citigroup’s provision for credit losses rose 15 percent to $2
billion in the latest quarter, more than expected. Earlier,
JPMorgan reported a disappointing surprise on provisions, too.
It had a 20 percent increase sequentially. This indicates those
who worry about banks’ credit quality have their sign: The
consumer really may be weaker. Perhaps things are turning in
this credit cycle.
For more on Citigroup’s earnings, read our TOPLive blog
here.

To contact the reporter on this story:
Laura J. Keller in New York at lkeller22@bloomberg.net
To contact the editors responsible for this story:
Michael J. Moore at mmoore55@bloomberg.net
Anny Kuo, Eric Coleman

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